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Eventbrite acquires competitor Nvite

Eventbrite, the event ticketing startup valued at just over $ 1 billion, has acquired Nvite, a smaller competitor. Nvite, based in Washington, D.C., had raised $ 1 million in funding in 2014 from a group of local investors.

An Eventbrite spokeswoman confirmed the deal and provided the following statement:

We’re excited to welcome Nvite to the family to join us in our pursuit to of helping millions of Eventbrite customers better market themselves and their events. They’ve been a valuable partner for some time through our open API and we’re excited to be taking this relationship to the next level. We’re inspired by their design prowess and the opportunity to bring a more customizable and branded experience to our customers.

The deal value was not disclosed. It’s the second acquisition for Eventbrite in recent months. In February, the company acquired Ticketscript, a European ticketing provider. At the same time, the company launched a new product serving music venues called Eventbrite Venue.

Eventbrite, which has been named as an IPO candidate in recent years, touts itself as the largest event technology company in the world based on the number of event organizers and the number of events it hosts on its platform. The company plans to process $ 3 billion in gross ticket sales this year.

The acquisition comes as Eventbrite loses a high profile client. Earlier this week, Tough Mudder, the race company, announced it had switched to ACTIVE Network, a provider of event technology for races. Tough Mudder represented less than 1% of Eventbrite’s revenue.

This story originally appeared on Copyright 2017

Social – VentureBeat

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